The OPEC Fund and the West African Development Bank (BOAD) have signed a Framework Agreement to further strengthen their development cooperation in the the member countries of the Western African Economic and Monetary Union (WAEMU).
FuelEx Eswatini, $6-million petroleum distribution company has been launched by Eswatini’s Minister of Commerce, Industry and Trade, H.E. Manqoba Khumalo.
UK-based operator Assala Energy announced it will spend $24 million to modernize Gabon’s Gamba export infrastructure in the south of the country.
GIZ GmbH has been working in Ethiopia on behalf of the Partnerships for Forest programme and together with smallholders organized in cooperatives, it is working on establishing forest coffee on the international market.
The European Bank for Reconstruction and Development (EBRD) is stepping up its efforts to support the Tunisian economy by increasing an existing trade finance limit for Banque de Tunisie from $20 million to $50 million.
Sterling and Wilson Pvt Ltd (SWPL) has announced that it's Hybrid & Energy Storage division (HES) has signed an EPC contract to construct a Solar PV Battery Storage and Diesel Genset based hybrid power plant in Agadez, Niger, in West Africa.
Newgen Software, a global provider of low code digital automation platform, has announced that TAJBank has selected Newgen as a digital transformation partner to automate its enterprise-wide customer-facing processes.
The OPEC Fund and the West African Development Bank have signed a Framework Agreement to further strengthen their development cooperation in the member countries of the Western African Economic and Monetary Union.
Mastercard Foundation partners with ICCO Cooperation to build resilience of 8,000 Senegalese farmers
ICCO Cooperation and the Mastercard Foundation have joined forces to support smallholder farmers in Senegal who were left reeling from the impact of COVID-19.
After piloting Visa Tap to Phone over the past year, Visa has announced product availability in more than 15 markets.
Zambia launched its Export Diversification Strategy in Gold and Gemstone Mining, to guide the formalization of the sector and stop illegal trading of the commodities in the country.
The EU Ambassador to Tanzania and the East African Community and the Secretary General of the EAC launched a €16.4 million joint programme to strengthen regional economic integration.
[Africa Business Panel] 6 percent of African Business Professionals expect their companies not to survive the Covid-19 Crisis
About 2/3 of the African companies (62%) say they are struggling but will survive. Almost a third of companies (29%) say they are doing well and the near future is looking good
Egypt's exports of crops hit 1.67 billion dollars in eight months, Jan-Aug 2020, according to the Ministry of Trade and Industry.
Standard Bank, Mastercard and Google have announced a collaboration to help SMEs move their businesses online, accept digital payments and attract more customers.
TymeBank, a digital bank in South Africa, looks to empower small and micro businesses to accept card payments, powered by Network International, an enabler of digital commerce across Africa and the Middle East.
Shelter Afrique Board has approved the development of the Kinyinya Park Estate Project- a 10,000 integrated and sustainable large scale housing project in Kigali.
A new report from IFC and the World Bank focused on the health of Nigeria’s economy finds that a broader private sector-led growth strategy could help Nigeria realize its immense potential by attracting more investment.
4G Capital Group Limited, Citi, U.S. International Development Finance Corporation (DFC) and the Ford Foundation have partnered to expand financial inclusion in Kenya.
In support and contribution to the development of industry in Africa, Siemens has revised its business approach for sustainable business development and competitiveness.
Andersen Global has established a presence in Djibouti’s emerging market through a Collaboration Agreement with Djibouti City-based Cabinet Avocats & Associés.
MicroLoan Foundation has launched its latest campaign, EmpowerHer, in a bid to help 50,000 female entrepreneurs in Africa.
U.S. International Development Finance Corporation (DFC) has committed $1.55 million in technical development for the Tulu Moye Geothermal Power Plant Project in Ethiopia.
Efficiency for Access Research and Development Fund supports 20 groups with £2.9 million funding for solar projects
The Efficiency for Access Research and Development Fund has awarded 20 organisations a total of £2.9 million of funding for innovative, solar-powered appliance technology projects.
AppsFlyer, the global attribution leader, has released the 11th edition of its Performance Index.
The latest UNCTAD report indicates that Africa loses about $89 billion a year as a result of illicit financial flows and theft which represents 3.7% of its GDP.
Deutsche Post DHL, German Ministry for Economic Cooperation promote e-commerce in developing and emerging countries
Giving small and medium-sized enterprises from developing countries access to global markets is the goal of a cooperation between the German Federal Ministry for Economic Cooperation and Development and the logistics company Deutsche Post DHL Group.
RingCentral, Inc. has announced that RingCentral Global Office™ will be available in six continents including Africa, Asia, Australia, Europe, North America, and South America.
Qatar Airways has signed an interline agreement with Airlink, further expanding its presence in Southern Africa as the largest carrier to operate from the region.
Moody’s Analytics has announced that MUA, a composite insurer operating across Mauritius and East Africa, will be using the Moody’s Analytics RiskIntegrity™ for IFRS 17 solution and the Moody’s Analytics Scenario Generator to meet the reporting requirements.
East African partner states are losing out billions of dollars by inadequately investing in adding value to horticulture and leather goods produced in the region and not addressing bottlenecks derailing growth in the sectors.
Cambium Networks, a global provider of wireless networking solutions, has announced it is supplying Tizeti Network Limited, Nigeria's public Wi-Fi operator, with an end-to-end wireless fabric solution.
Disruptions to crude oil and condensate production from members of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC countries have risen considerably since last year.
Econet, through its subsidiaries Liquid Telecom Group (LTG) and Cassava Fintech International (CFI) has launched a network of #SasaiWiFiFinder hotspots providing locals with most affordable internet access.
Mozambique and Germany have a special relationship, that was formalised when the German Democratic Republic established diplomatic relationships with the then newly independent Republic of Mozambique in 1975.
ZTE Corporation has signed a partnership with MTN Zambia to construct a cross-border Optical Transmission Network backbone in Zambia.
Ethiopia government and International Fund for Agricultural Development of the United Nations (IFAD) have launched a new US$305.7 million programme to help the most vulnerable farmers increase their resilience.
The 2020 OPEC World Oil Outlook has been launched providing the OPEC Secretariat’s in-depth look at the unprecedented scale and impact of the COVID-19 pandemic on the global energy and oil markets.
Almost as many women as men use the internet in Ghana, according to a new survey from the World Wide Web Foundation, which finds men are just 6% more likely to be online than women.
COMESA has welcomed the launch of the African Medical Supplies Platform (AMSP) as an invaluable One Stop Shop that will ensure access to safe and affordable quality medicines in Africa.
ENGIE has appointed Gillian-Alexandre Huart as CEO of ENGIE Energy Access, its Access to Energy business in Africa, tasked with providing millions of households and businesses across the continent with clean and affordable energy.
MTN Group is has appointed a new Chief Executive Officer for MTN Liberia Lonestar Cell.
IFC, a member of the World Bank Group, has announced a finance guarantee facility to Union Bank to boost access to finance for local business, enable increased international trade for Nigeria and help protect the country’s economy.
After several months of suspension, Air Austral has been authorised to resume its flights from and to this Malagasy destination.
BUA Cement has appointed Jacques Piekarski, as the new Chief Financial Officer.
Consortium of global multilateral development banks calls for measures to support trade continuity in Sub-Saharan Africa
The Pulse check report issued by a consortium of multilateral development banks and trade research institutions, recounts the views of sub-Saharan banks on multi-lateral development banks’ responses to uphold a well-functioning trade finance market.
Global social impact Oikocredit International Support Foundation has signed a memorandum of understanding (MoU) with Karongi and Muganza Kivu tea factories in Rwanda to produce two million seedlings.
MultiChoice Group (MCG) has announced that its subsidiary SuperSport has acquired exclusive rights to broadcast Ethiopian Premier League matches.
Wasatch Global Investors has announced the appointment of Albert Trinkl, CFA, to the firm’s institutional business development team.
GE Renewable Energy’s Grid Solutions business has been awarded a contract of US$47 million for a substation project in Benin.
Following the signing of the contract with the China Harbour Engineering Company (CHEC) in August, construction works have now officially begun for the Côte d’Ivoire Terminal (CIT), Abidjan’s second container terminal.
MTN Group and Telecom Infra Project (TIP) have joined forces to support the evolution of MTN’s communication transport infrastructure, which will become a platform for future revenue growth and profitability.
To enable crop researchers and policymakers access information on the three Tropical Legumes projects under one roof, a digital hub has been developed to capture learnings and impacts of crop varietal development.
First Distribution partners with VSS sign on video surveillance appliances distribution across Africa
First Distribution, the Pan-African distributor for cybersecurity, datacentre, enterprise and cloud solutions, has signed an agreement to distribute the entire Video Storage Solutions (VSS) product line of video surveillance appliances.
World Bank confirms economic downturn in Sub-Saharan Africa, outlines key polices needed for recovery
Driven by the economic fallout of the COVID-19 global pandemic, growth in Sub-Saharan Africa is predicted to fall to -3.3 percent in 2020, pushing the region into its first recession in 25 years, according World Bank's latest regional economic analysis.
The United States, through the USAID and Egypt’s Ministry of International Cooperation signed an agreement to add $22.8 million to the five-year Inclusive Economic Governance bilateral assistance agreement.
Growing adoption of digitization across the global banking sector is significantly boosting the use of advanced technologies including artificial intelligence according to the latest report by Research and Markets.
Kribi Multipurpose Terminal (KMT), a Cameroonian subsidiary of International Container Terminal Services (ICTSI) has started commercial operations at the Multi-Purpose Terminal of the Port of Kribi in Cameroon.
Airtel Tanzania has collaborated with WorldRemit, the global payments company to enable Airtel Money customers to send and receive money directly into their Airtel Money wallets from abroad.
[Morocco] Vantage Capital invests $28 million to acquire minority stake in Cliniques Internationales du Maroc Group
Vantage Capital, Africa’s mezzanine fund manager, has made a $28.0 million equity investment to acquire a significant minority shareholding in the Cliniques Internationales du Maroc Group.
Eos Energy Storage LLC, has announced an expansion of its partnership with Nayo Tropical Technology Ltd., a West African mini-grid engineering, procurement, and construction company.
Pan-African infrastructure financier, Harith General Partners has announced at its Annual Investors' Feedback meeting that Mr Sipho Makhubela has been appointed as its Chief Executive Officer.
Scientists from NemAfrica, the nematology unit at CGIAR-IITA, and the International Centre for Insect Physiology and Ecology (icipe) are currently assessing new potato varieties that are resistant to the potato cyst nematode (PCN) pest.
United Nations FAO and CropLife International renewed and strengthened their commitment to work together and find new ways to transform agri-food systems and promote rural development through on the ground investment and innovation.
Good Nature Agro, a Zambian company working from end-to-end within the specialised legume value chains, has closed Series A equity funding totaling $2.1 million.
Governments must do more to tackle tax abuse and corruption in global finance, says a panel of former heads of state and government, past central bank governors, business and civil society leaders and prominent academics.
The Nigerian National Petroleum Corporation (NNPC) and Sterling Exploration and Energy Production Company (SEEPCO) have signed an agreement for the development and commercialization of gas.
With COVID-19 having a damaging impact on Aquaculture, the market is expected to lose steam before recovering to reach a projected global market size of $245.1 billion by 2027.
Mastercard has announced a partnership with Samsung, Airtel Africa and Asante Financial Services Group (“Asante”) to launch a Pay-on-Demand payments platform and drive the digital economy across Africa.
Infront, the media-rights agency responsible for negotiating English Premier League’s free-to-air deals in sub-Saharan Africa, has secured a 30% increase in broadcasters for one of the world’s top football leagues.
Ghana Cocoa Board (COCOBOD), in collaboration with a consortium of International Financiers, signed an agreement that will bring in an amount of $1.3 billion to the Ghanaian Economy.
The African Development Bank, the government of Nigeria and Microsoft have launched the Digital Nigeria eLearning Platform, to provide marketable digital skills to the country’s youth.
About 3 billion people are struggling to access healthy diets with over 200 million children below five years having to survive with insufficient foods.
The UK Department for International Trade (DIT) and Egyptian British Chamber of Commerce (EBCC) organised first retail webinar to explore retail and e-commerce opportunities for British companies in the Egyptian market.
The African Union has amplified action to tackle non-tariff barriers and increase small businesses’ use of the tradebarriers.africa tool through its new online platform
The European Investment Bank and other multilateral agencies have signed an agreement with Development Partners International LLP (DPI) to become the first 2X Flagship Fund.
Every year, an estimated $88.6 billion, equivalent to 3.7% of Africa’s GDP, leaves the continent as illicit capital flight, according to UNCTAD’s Economic Development in Africa Report 2020.
Orange has announced the launch of its online training platform "Orange Campus Africa" in partnership with the Virtual University of Senegal (UVS) during GSMA Thrive Africa.
Huawei, in cooperation with digital payment entity, Mondia Pay, is now offering Direct Carrier Billing service (DCB), for seamless, contactless payments for users in the MEA region.
African Guarantee Fund has announced the appointment of Jules Ngankam as the new Group Chief Executive Officer.
The International Finance Corporation (IFC) has announced a partnership with OCP Africa to strengthen value chains of rice in Côte d'Ivoire and millet in Senegal.
The Global Healthcare Supply Chain Management market is expected to reach $3.60 billion by 2026 growing at a compounded annual growth rate of 9.0 per cent during 2019 to 2026 according to the latest report by Research and Markets.
Evergreen Herbs Ltd, one of East Africa’s producers of fresh cut herbs, has started operations at a farm that was set to close in Kajiado, Nairobi.
Epsilon, a global connectivity and communications service provider, has partnered with Business Connexion (BCX), one of South Africa's technology companies, to deliver high performance data centre interconnection (DCI) services for African enterprises.
Vuna Partners Fund announced its acquisition of an 80% equity stake in 4PL Group Proprietary (4PL), with the remaining 20% shareholding held by the management of 4PL Group.
Esri, the global player in location intelligence, has announced a joint initiative with AfroChampions, a Pan-African nonprofit that aims to promote policies that foster private-public collaboration for Africa's economic transformation.
Hewlett Packard Enterprise, HPE, has announced collaboration with global research partnership the CGIAR System Organization (CGIAR) to uncover insights about food security challenges, now intensified due to COVID-19.
Global demand for oil is likely to peak around 2030, as the world recovers from the impact of COVID-19.
CGIAR-IITA and the Eastern Africa Grain Council (EAGC) have signed a memorandum of understanding (MoU) to work together to tackle aflatoxin contamination of grain in the region.
In a first-of-its-kind development in the region, smartphone manufacturer realme has excited the Kenyan market with the introduction of its flagship brand, the realme C15.
The horticulture industry in Kenya is optimistic of quick recovery as global space slowly opens after the Covid-19 disruption.
Economic uncertainties have increased the downward pressure on smartphone prices globally with 73 per cent of shipments in 2020 expected to be priced below $400.
Microsoft has entered into a Memorandum of Understanding with the Alliance for a Green Revolution in Africa (AGRA) to co-create technology solutions in agriculture.
WorldRemit, a global digital payments company, has launched The WorldRemit Transfer Tracker mobile App for recipients of money transfers which allows them to track their remittances.
South Africa’s tech company Digital Kungfu has launched Africa's premium lead-gen skills accelerator for tech companies.
Pan African cross-industry API marketplace Chenosis has announced the conclusion of its first set of strategic partnerships with Nigerian-based emerging digital platform provider Blusalt and Gwirio, a software services company founded in South Africa.
The African Export-Import Bank (Afreximbank) announced Fitch Ratings has affirmed the Bank’s long-term Issuer Default Ratings (IDR) at ‘BBB-‘ with a stable outlook.
AirSmat, a Nigeria-based Pan-African Software company, has received a boost of $100,000 from Zetogon as pre-seeding investment to help the organization on the journey to deliver world-class service in Africa.
Gebeya, and the International Finance Corporation (IFC), a member of the World Bank Group through the Women Entrepreneurs Finance Initiative, or We-Fi program, have signed a $500,000 advisory services agreement to implement the Digital Gender-Ethiopia Program.
Insurers must explore new ways to build capabilities to meet the digital needs of customers as BigTechs and non-traditional players enter the insurance space, according to the World InsurTech Report 2020.